E-commerce sales are booming and it is all about the speed. Consumers are turned off by the thought of sitting in bumper to bumper traffic to enter a shopping center then waiting again in the long lines inside of the retail stores. Not to mention, the in store shopping experience has only deteriorated as the years have progressed. Lines are too long since stores are understaffed making it impossible to receive respectable customer service, especially during the holidays.
Importance of Online Businesses
Brick and mortar revenue is down while revenue from online businesses only continue to climb. The newest retail trend evolving is that brick and mortar retailers are acting as if they were now the showroom for the retailer. Consumers enter the store to find the item they are hunting for, try it on, choose a color, then return home to find the product online for a lower price or added discount. They then gather a free shipping code off of sites like “RetailMeNot” or “DealLocker,” order their items and move on to the next activity that awaits their attention. Most retailers leading up to the Holidays are offering free shipping as an added bonus which saves the consumer even more time.
How e-Commerce Sites Can Respond
For e-commerce sites to continue to thrive, they must invest in services which provide up to date performance monitoring to ensure that their site loads swiftly. They must also ensure that the checkout process on the website is simple. 71% of shoppers believe they can find better deals online and faster websites simply generate more revenue. The relationship between performance and revenues has been defined over and over again. Performance does matter. If a site is slow, the consumer will leave the site and simply purchase from a competitor. If shoppers are not waiting in lines inside of the store today, surely they will not want to wait on a slow e-commerce site. I encourage businesses to take advantage of the opportunity in e-commerce by utilizing web performance services to maximize their revenues in the long term.
Rigor has aided in the mass revenue increase of front runner e-commerce web sites by providing best in class web performance and monitoring services. For example, after Rigor identified the factors contributing to Tempurpedic.com’s slow load times, Tempur-Pedic was able to conduct optimization efforts that improved the site’s overall load time by 20%. This improvement yielded the following impressive KPI strides, amongst others: bounce rate decreased by 12%, conversions increased by 1%, time on site increased by 10%, average page views increased by 13%, and most significant to Tempur-Pedic’s bottom line, average order value increased by 14%.
These numbers prove that a faster site leads customers to visit a greater number of pages, which results in more product browsing and larger purchases. For a website that generated $94M in revenue in 2011, increasing average order value by 14% opens the door for significant revenue gains in 2012. Rigor’s testing, monitoring, and detailed performance reports gave Tempur-Pedic the insight needed to create a targeted and efficient strategy for improving the performance of TempurPedic.com. By satisfying consumers’ need for speed, Tempur-Pedic was able to fully leverage its newly launched site and improve critical key performance indicators. Bottom line, if your website doesn’t work, your entire business is impacted.
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